By Cross Udo
The Federal Government has said that it is putting all necessary measures in place to stop cash withdrawal from federal, state, and local government accounts.
The Director and Chief Executive Officer (CEO) of the Nigerian Financial Intelligence Unit (NFIU), Modibbo Tukur, gave the hint yesterday at a parley with the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu.
In a statement issued by Ahmed Dikko, Chief Media Analyst, the NFIU CEO said, “Because of the consistent devaluation of the Naira and the introduction of a new Naira Policy, section 1 of the Money Laundering Prohibition Act is automatically activated”.
Tukur further stated that most cash withdrawals from government accounts including payments for estacodes are often more than the cash withdrawal limit provided by the Money Laundering Act. This, he said, exposes innocent Public Servants to be liable to imprisonment.
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He also said the NFIU is already developing an advisory to the Secretary to the Government of the Federation, all governors, and local government council chairmen to direct all public servants to open domiciliary and naira accounts ahead of the commencement of the policy which becomes compulsory by law.
Tukur said governors and council chairmen will also need to organize training for market men and women on how to use ATM and POS Services.
In the same vein, the NFIU Chief Media Analyst, Ahmed Dikko has refuted the news going around that the NFIU will block Federal Government Accounts in January 2023.
